Cetera Sues 2 Former Execs for Joining Competitor

Cetera Financial Group's parent, RCS Capital, is suing to stop two former top executives from going to work with their former boss, ex-Cetera CEO Valerie Brown who is now at Lightyear Capital.

Private equity firm Lightyear is the new co-owner of AIG Advisor Group, a top competitor to Cetera, the second-largest IBD in the country in terms of advisor headcount. Cetera has more than 9,000 planners who manage $220 billion in client assets.